The Property Mill Queensland – 8th September 2015

September, 2015

In the media

Helping taxpayers get it right this tax time on rental properties

The ATO is increasing its focus on rental property deductions and is encouraging all rental owners to double-check their claims before lodging their tax return. The ATO is paying particular attention to excessive deductions claimed for rental properties, especially those located in popular holiday destinations around Australia (30 August 2015).

To read more, please click here.

Independent stocktake confirms environmental targets

The Minister for the Environment said the release of the Sustainable Diversion Limit (SDL) stocktake showed projects were on track to deliver the environmental outcomes outlined under the Basin Plan. This independent report shows that over 500 gigalitres less water is needed to meet the environmental targets in the Plan (27 August 2015).

To read more, please click here. To read the full stocktake report, please click here.

Colliers: Small is big news in Australia’s office market

An increase in small tenants is creating a changing landscape for building owners in CBD office markets across the country, with a rise in demand for sub-500 sqm office space is being driven by growth of start-up and technology businesses, the latest report  finds (25 August 2015).

To read the report, please click here.

Ipswich council to oppose future coal mines and CSG exploration

The Ipswich City Council, west of Brisbane, has resolved to oppose future coal mines and coal seam gas exploration and work to extinguish existing mining leases. It is the latest of several local governments around Australia to act on community concerns about mining (26 August 2015).

To read more, please click here.

Queensland

Legal battle looms over Qld’s Acland mine

The stage is set for a drawn-out legal battle over the controversial expansion of the Acland open-cut coal mine in Queensland, with the state government issuing a draft environmental authority for New Hope Coal’s $900 million project, northwest of Toowoomba, to go ahead (31 August 2015).

To read more, please click here.

Queensland company involved with property promoting group has credit licence cancelled

ASIC has cancelled the Australian credit licence of Smithson & Baye Pty Ltd (Smithson & Baye) (ACN 161 713 159), a credit provider based in Brisbane and Paradise Point, Queensland (25 August 2015).

To read more, please click here.

Lindeman Island resort project progresses

The independent Coordinator-General has released Terms of Reference for the proposed development’s Environmental Impact Statement (EIS). The proponent, White Horse Australia Lindeman Pty Ltd, is seeking to redevelop and expand the existing resort on the island, including five and six-star resort precincts and a 50-berth marina (24 August 2015).

To read more, please click here.

Abbot Point coal port project takes a step forward

The State Government has released a draft Environmental Impact Statement (EIS) for the Abbot Point coal port project. State Development Minister Dr Anthony Lynham said the draft EIS was now available for public comment until 18 September (20 August 2015).

To read more, please click here.

Adani coal mine: Government plans to stymie litigation on major developments ‘bizarre’

Environment groups are preparing to battle the Federal Government’s plans to stymie litigation against major development projects. It follows a successful court challenge to the environmental approval of Adani’s multi-billion-dollar Carmichael coal mine in Queensland (18 August 2015).

To read more, please click here.

In Practice and Courts

ASIC consults on remaking ASIC class orders on real estate companies

ASIC today released a consultation paper proposing to remake and consolidate two class orders that are due to expire (‘sunset’) in 2016. The class orders relate to real estate companies.

The class orders proposed to be remade are:
Class Order [CO 00/213] Real estate companies, and
Class Order [CO 05/1243] Licensing relief for valuations of real estate companies.

Consultation Paper 237 – Remaking ASIC class orders on real estate companies: [CO 00/213] and [CO 05/1243] (CP 237) outlines the class orders proposed to be remade and our rationale for remaking them. Submissions on CP 237 are due on 23 September 2015 (26 August 2015).

To read Consultation Paper 237, please click here.

Draft policy statement: advanced environmental offsets under the EPBC Act

The Australian Government has released a draft policy statement providing guidance on the use of advanced offsets under the EPBC Act. The statement should be read in conjunction with the EPBC Act environmental offsets policy and the How to use the offsets assessment guide (17 August 2015).

To read more, please click here.

Grants for cities to build resilience

Applications are now open for the second round of the Rockefeller Foundation’s 100 Resilient Cities Challenge. Any city with a population over 50,000 can apply, including regional centres. Applications close on September 10.

To read more, please click here.

Announcements, Draft Policies and Plans released 2015

Better Planning for Queensland directions paper: Consultation

Have your say on the Better Planning for Queensland directions paper. This consultation will close on 25 September 2015.

Read the paper here.

Draft City Centre Neighbourhood Plan

Brisbane City Council has released the draft City Centre Neighbourhood Plan for consultation. The draft neighbourhood plan incorporates the strategies that were developed as part of the Brisbane City Centre Master Plan 2014 response. Submissions close 25 September 2015.

To read more, please click here.

Current Queensland Government Inquiries closing dates 

Building Queensland Bill 2015 – 01 September
Heavy Vehicle National Law Amendment Bill 2015 – 01 September
Fly in, fly out and other long distance commuting work practices in regional Queensland – 30 Sept
Sustainable Ports Development Bill 2015 – 01 September
Planning and Development (Planning for Prosperity) Bill 2015 – 13 October
Planning and Development (Planning for Prosperity – Consequential Amendments) and Other Legislation Amendment Bill 2015 – 13 October
Planning and Development (Planning Court) Bill 2015 – 13 October

Cases

Steinhardt v Trenfield & Park as liquidators of Wealth Base South Coolum Pty Ltd (in liq) [2015] QSC 237

CORPORATIONS – WINDING UP – CONDUCT AND INCIDENTS OF WINDING UP – EFFECT OF WINDING UP ON OTHER TRANSACTIONS – DISCLAIMER OF ONEROUS PROPERTY– application under s 568E of the Corporations Act 2001 (Cth) to set aside a disclaimer by liquidators of a lease of land held by the applicant from the company in liquidation – whether the disclaimer would cause the applicant prejudice that was grossly out of proportion to the prejudice that setting aside the disclaimer would cause to the company’s creditors – where the applicant’s evidence established the existence of substantial financial prejudice from the disclaimer of the lease – where the liquidators claimed the prejudice from setting aside the disclaimer would be that the company’s land assets would be unable to be sold until the expiry of the applicant’s lease – where the applicant proposed to provide an undertaking to the court to surrender the lease if and when the liquidators sold the subject lot – where no discernible prejudice to the company’s creditors for the purposes of s 568E by setting aside the disclaimer and allowing the applicant to remain in possession.

To read the full case, please click here.

Legislation

Bills Progress

Foreign acquisitions and takeovers Bills referred to Committee, 24 August 2015

The Foreign Acquisitions and Takeovers Legislation Amendment Bill 2015, Foreign Acquisitions and Takeovers Fees Imposition Bill 2015 and Register of Foreign Ownership of Agricultural Land Bill 2015 have been referred to the Senate Economics Legislation Committee for inquiry and report by 12 October 2015.

Australian Radiation Protection and Nuclear Safety Amendment Bill 2015

Senate Standing Committees on Community Affairs Australian Radiation Protection and Nuclear Safety Amendment Bill 2015 Report, 17 August 2015.

Contact Mills Oakley

For more information, please contact:

Melbourne


James Price | Partner 
T: +61 3 9605 0824
E: jprice@millsoakley.com.au


Anthony Brearley | Partner
T: +61 3 9605 0810
E: abrearley@millsoakley.com.au


Tom Cantwell | Partner
T: +61 3 9605 0958
E: tcantwell@millsoakley.com.au

luke-westmore

Luke Westmore | Partner
T: +61 3 9605 0061
E: lwestmore@millsoakley.com.au

Brisbane

tony-butler

Tony Butler | Partner 
T: +61 7 3228 0432
E: tbutler@millsoakley.com.au

Sydney


lachlan-paterson

Lachlan Paterson | Partner
T: +61 2 8289 5895
E: lpaterson@millsoakley.com.au

Catherine Hallgath | Partner
T: +61 2 8289 5806
E: challgath@millsoakley.com.au

Tim L’Orange | Partner 
T: +61 2 8289 5816
E: tlorange@millsoakley.com.au

Canberra

adam-peppinck

Adam Peppinck | Partner
T: +61 2 6196 5203
E: apeppinck@millsoakley.com.au

Perth

andrew-logan

Andrew Logan | Partner
T: +61 8 6167 9802
E: alogan@millsoakley.com.au

patrick-thaung

Patrick Thaung | Partner
T: +61 8  6167 9803
E: pthaung@millsoakley.com.au

 

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